WHAT IS THE CORONAVIRUS BLACK STUDENT DEBT CRISIS?
Many Blacks across the country are making real life decisions at gas stations, debating which is more important during the Corona shut-in, gas or their student loan. Sadly, after four years, Black graduates have almost twice as must student loan debt as their white peers at $53,000. During freshman year, nearly 9 in 10 Blacks borrow federal loans to attend four-year colleges, compared to 6 in 10 whites. Even students from well-off, college educated, two-parent homes experience the same disparities.
Americans owe $1.5 trillion in student loans with the total attributed to young adults the highest since right before The Great Recession. Four-year Black college grads take on $7,400 more in loans than their white peers according to Business Insider. "A 2018 analysis by the Roosevelt Institute found that white families have 12 times the amount of wealth as Black families."